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since they are so complex to work with for a starting developer. Through our simple gulp based build setup and use of TypeScript and a prepared package to start development with the open source cross platform Atom editor. We think we have a good chance of bringing on skilled or starting frontend developers to this powerful but fun to work with framework
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CORE: What was your inspiration for HEAT?
DENNIS: When we ran into limitations while pushing FIMK to the max, it was clear that something fundamental had to change to handle the potential larger user base.
CORE: On the mind of a lot of investors is marketing since it was so successful for Ethereum. Do they have a marketing strategy for HEAT?
Svante: Heat Ledger Ltd is a fintech startup company. Thus the HEAT blockchain is just one of Heat Ledger Ltd’s products, designed to showcase on live crypto platform and real use cases the various solutions available for corporate customers and joint venture partners. HEAT’s marketing will emphasize the implementation of real world use cases that the crypto world strongly needs. Any kind of tokens can be easily traded against each other in the HEAT blockchain.
As we know, this is a feature already a few platforms carry (at least WAVES, FIMK, and the NXT Ardor) but although the claim for easy transmittal of fiat currency (USD, EUR) is easy to make, the regulatory arrangements are a whole different ball game. Heat Ledger Ltd is sorting that out with our JV partners through a pending money transmitter license in an EU country.
CORE: Where does this leave FIMK now that you are focusing on HEAT?
Svante: FIMK will be supported by the HEAT multicurrency client. FIMK is also accepted on the HEAT ICO at favorable rates, so FIMK holders can exchange some or all of their FIMK to the HEAT tokens. FIMK will however continue on a separate blockchain on its own right, supplying technically advanced community crypto platform and coordinated by the nonprofit association. Community based features such as the blockchain strong ID authorization, decentralized webshops and monthly basic income will continue to draw interested participants towards the FIMK economy to sustain its growth. This target market and mode of operation are very different from HEAT’s commercial business based focus. Our goal is that the synergy from HEAT’s business solutions will also help FIMK to attain its place in the world more clearly.
CORE: What sort of timeline do you have? When do you estimate testnet and mainnet to be released?
Svante: Testnet and alpha client release goal is the latter half of August. Mainnet preliminary release date is September 5th.
CORE: What are the details for the HEAT ICO?
Svante: For the HEAT ICO we use four escrow companies as well as accept direct investments to our BTC, FIMK, ETH and NXT accounts. Detailed instructions for participating in the ICO can be read at http://heatledger.com/ico/. There are four different price ladders for each cryptocurrency separately, based on first come first served basis. Token prices, for instance those payable in BTC, started from 0.0001 BTC. Once a price ladder is “sold off”, the token investment price increases some 20% to 30%.
At the simplest, the participant needs to only send cryptocurrency to our account to ensure his stake in the HEAT token distribution. No registration whatsoever is necessary at this phase. After the ICO period is over from August 9th onwards, we aggregate the various funding sources and run through accounting to distinguish and verify the price stage of each individual investment, and assign a number of tokens from the total pool of 25 Million HEAT.
HEAT tokens will be distributed to the HEAT wallets of the stakeholders through an online facility on our web site, after verifying each investor’s access to the original investment source cryptocurrency account. When the HEAT tokens and mainnet are live, we’ll release the company options plan for preparation of the Heat Ledger Ltd IPO. Each HEAT holder will be eligible to receive options in proportion to a still undecided number of HEAT tokens they hold. Each option enables its holder to purchase Heat Ledger Ltd shares from the IPO at a minimum 50% discount compared to standard IPO purchase price.
IPO stock options can be traded on the public HEAT p2p blockchain exchange. The IPO is planned to be completed in November 2016. Since then the Heat Ledger Ltd stocks can be traded on the online HEAT p2p exchange, and possibly on other online exchanges a bit later.
heat interview